Bajaj Finance Ltd Q4 FY26 Results & Concall Highlights: Revenue, Margins & Order Book

Q4 FY26 earnings call: what management guided on revenue, margins and order book.

Published 3 Jul 2026 | Finance | Market Cap: ₹6.8L Cr

AUM growth expected at 20% to 24% for FY27, supported by scaling new businesses launched in recent years (Page 6). Bajaj Finance Limited expects AUM growth of 20% to 24% in FY27, supported by scaling new businesses and MSME growth recovery from Q2/Q3 FY27.

From Bajaj Finance Ltd's Q4 FY26 earnings-call transcript · updated 23 Aug 2026.

📊 Revenue & Sales Performance

→AUM growth expected at 20% to 24% for FY27, supported by scaling new businesses launched in recent years (Page 6).
→Confident of adding 15-17 million new customers in FY27 (Page 6).
→Margin impact anticipated with marginal moderation in NIM, depending on interest rates and geopolitical tensions (Page 6).
→Operating expense to net interest income (opex to NTI) expected to improve by 25 to 40 basis points (Page 6).
→Profit growth likely to outpace AUM growth, potentially 35-40%, though uncertain and dependent on AI deployment and other factors (Page 16).
→Market share in total credit in India increased from 225 to 250 basis points, aiming for ~2x system credit growth to become a top 5-6 lender in 5-7 years (Page 16).
→Gold loan and other newer businesses expected to grow faster than the overall portfolio due to low base and strategic focus (Page 15).
→MSME growth expected to rebound to double digits in H2 FY27 from current muted levels (Page 15).

📈 Profitability & Margins

→Bajaj Finance Limited expects AUM growth of 20% to 24% in FY27, supported by scaling new businesses and MSME growth recovery from Q2/Q3 FY27.
→Profit growth is expected to outpace AUM growth, potentially above 22-24%, driven by operating efficiency improvements and stable credit costs.
→The company targets operating expense (opex) to NTI improvement of 25 to 40 basis points.
→Credit costs guidance is between 145 to 160 basis points for FY27, reflecting a trend of moderation.
→ROA is guided at 4.4% to 4.6% for FY27, with no reliance on NIM expansion but on controlling costs and credit costs.
→ROE is expected to remain healthy around 19% to 20% in FY27.
→Management emphasizes resilience and "bullet proofing" the business amid geopolitical uncertainties to sustain long-term growth.
→Profit compounding target remains strong, with a history of delivering 20-22% ROE over the past decade.

See what Bajaj Finance Ltd said on profitability & margins — free account, 30 seconds.

🏗️ Capital Expenditure Plans

→Bajaj Finance is making significant investments in AI infrastructure as part of its FinAI transformation.
→The company is expanding its AI team from 203 to around 363 resources by June 2027.
→Investments focus on compute resources, talent development, and AI use cases.
→AI deployment includes agentic platforms with 600+ autonomous agents planned for FY27 across operations, DMS, HR, technology, and risk.
→Physical infrastructure includes deploying ~2,700 cameras in customer service branches and gold loan stores to enhance customer identification and reduce friction.
→AI call center agents have reduced costs by one-third, replacing traditional outbound voice agents.
→While exact capex figures are not published, Bajaj Finance emphasizes not holding back any necessary investments to maintain technological leadership.
→Key outcomes expected: faster turnaround, cost savings, improved customer experience, and operational efficiency starting in the current fiscal year and increasing into FY27.

💰 Fundraising & Capital Structure

The transcript does not explicitly mention any current or future fundraising plans through debt or equity for Bajaj Finance Limited. Key related points include: - No direct mention of planned equity or debt raising during the call. - Sandeep Jain mentioned that capex is not published as a metric but ongoing investments, especially in AI infrastructure, are continuing without pulling back any stops. - Focus remains on strengthening the balance sheet with resilient profit growth exceeding balance sheet growth ("bullet proofing" the business). - The company’s approach involves maintaining strong credit metrics with a conservative and prudent provisioning strategy. - Dividend policy was noted with a 600% dividend recommended, indicating a shareholder-friendly capital allocation rather than raising fresh equity. - Growth ambitions are funded internally with scalable businesses and credit growth at 22% to 24%. Therefore, no explicit fundraising through debt or equity was disclosed or discussed as planned in the current or near future.

See what Bajaj Finance Ltd said on fundraising & capital structure — free account, 30 seconds.

📋 Order Book & Pipeline

The provided pages from the Bajaj Finance Limited document do not include specific details about the current or expected order book or pending orders. The discussion primarily focuses on financial performance, growth guidance, AI integration, credit cost management, and business strategy. There is no mention or data related to order book status or pending orders. If you need information about order book or pending orders, please provide relevant pages or documents containing that information.

Key Metrics

How does Bajaj Finance Ltd rank vs peers in Finance?

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1Bajaj Finance Ltd

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Price

₹1,095

Market Cap

₹6.8L Cr

P/E Ratio

33.0

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Frequently Asked Questions

What were Bajaj Finance Ltd Q4 FY26 results?

What is Bajaj Finance Ltd share price analysis?

Bajaj Finance Ltd currently shows a neutral. The stock trades at a P/E of 33.0 with a market cap of ₹676,761 Cr. Investors should review the full earnings analysis for detailed insights.

Is Bajaj Finance Ltd planning capital expenditure?

Bajaj Finance is making significant investments in AI infrastructure as part of its FinAI transformation.

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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.